In a capitalist system, consumers, investors, and corporations orient their activities toward a
future that contains opportunities and risks. How actors assess uncertainty is a problem that …

In arguably his most important book to date, Hodgson calls into question the tendency of
economic method to try and explain all economic phenomena by using the same catch-all …

Economic theory is currently at a crossroads, where many leading mainstream economists
are calling for a more realistic and practical orientation for economic science. Indeed, many …

Friedrich A. Hayek is regarded as one of the preeminent economic theorists of the twentieth
century, as much for his work outside of economics as for his work within it. During a career …

The concept of the individual and his/her motivations is a bedrock of philosophy. All strands
of thought at heart come down to a particular theory of the individual. Economics, though, is …

Reflection without Rules offers a comprehensive, pointed exploration of the methodological
tradition in economics and the breakdown of the received view within the philosophy of …

Doubt over the trustworthiness of published empirical results is not unwarranted and is often
a result of statistical mis-specification: invalid probabilistic assumptions imposed on data …

WHEN ECONOMISTS WRITE about the methodology of their subject, they often cite
philosophical authorities to buttress their arguments. Among the most popular of these …

Rationality is a conspicuous yet neglected phenomenon. It has received much attention from
philosophers and some social scientists, who have treated rationality as the hallmark of …

In The Methodology of Macroeconomic Thought, Sheila Dow attempts to bridge the gap
between methodology and macroeconomic theory through the study of four different schools …